$130 oil to dominate proceedings

June 2, 2008

The Reuters Global Energy Summit 2008 has kicked off, and unsurprisingly, near-record oil prices are the hot topic. Nippon Oil’s president warns that “Oil will self destruct,” saying the high prices open the door to alternative energy. Japan’s largest refiner is also looking to speed up plans to export more oil products as it seeks to escape slowing domestic demand.

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